A sample of 30-year find mortgage rates at 12 randomly chosen credit unions yiel

Question

A sample of 30-year find mortgage rates at 12 randomly chosen credit unions yields a mean rate of 6.65% and a sample standard deviation of 0.39%. A sample of 30-year fixed mortgage rates at randomly selected banks yields a mean rate of 7.05% and a sample standard deviation of 0.22%. Are the mean rates differential between credit unions and banks? Relevant output is shown in the accompanying table. Which of the following is true? Difference = mu (1) - mu (2) Estimate for difference: = 0.400 95% CI for difference: (-0.665, -0.135) T-Test of difference = 0 (vs not =): T-Value = -2.69 P-Value = 0.013 DF = 23.85 i. This is a paired design. ii. This is a test of two means from independent samples. iii. This is a tailed test. A. I only B. Both II and III C. II only D. III only

Explanation / Answer

this is a a test for two mean of independent samples

hence only II is correct

hence optin c) is correct

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